24 Hour Fitness Appoints Tony Ueber as Chief Executive Officer

24 Hour Fitness Appoints Tony Ueber as Chief Executive Officer

San Ramon, CA. - January 15, 2019

24 Hour Fitness (the "Company") today announced that Tony Ueber, former President and CEO of Results Physiotherapy, will become Chief Executive Officer, effective immediately. Current CEO Chris Roussos will step down and remain as a special advisor to the Company for the next two months to ensure a smooth and effective transition.

Mr. Ueber most recently led the transformation and rapid growth of Results Physiotherapy and previously Banfield Pet Hospital, both highly mission-driven organizations that emphasized culture, team member engagement and a commitment to being customer-centric as critical elements to achieving positive results.

"After an extensive strategic review and development of our company's new value proposition, the board came to the conclusion that the company required a different CEO skill set to achieve its transformational objectives," said Roland Smith, Chairman of the Board of Directors at 24 Hour Fitness. "With 25 years of demonstrated success across a diverse background of experiences in the consumer products, retail and healthcare services industries, Tony has the unique skill set and experience required to execute on the strategic plans we have laid out to transform 24 Hour Fitness into the clear industry leader."

Over the past four years at Results Physiotherapy, Mr. Ueber more than doubled the number of locations while opening seven new markets, evolving the operating model and establishing the infrastructure required to enable the business to sustain its rapid growth. Similarly, during his tenure at Banfield, the company doubled revenue and delivered more than a tenfold increase in earnings.

"I am excited to join the 24 Hour Fitness team and fundamentally believe in the vision and mission of the business and the potential for the company to become the definitive leader in the industry," added Tony Ueber. "I am confident that we can build upon the solid foundation that Chris has built to take the Company to new heights."

Mr. Smith continued: "Over the past two years, 24 Hour Fitness has achieved the best financial results in the history of the Company. We thank Chris for his role in building the solid foundation on which 24 Hour Fitness sits today, and appreciate the incredible support he's provided throughout the exhaustive process of finding a new CEO. We wish him the best in his future endeavors."

"It has been a privilege and honor to be part of the 24 Hour Fitness team for the past two years and I am proud of what we have accomplished together," added Chris Roussos. "With a solid foundation in place, the time is right to hand the reigns over to Tony and the team to execute on the long term strategic plan. I look forward to seeing the great success that lies ahead for the company."

Celebrating 35 years as an industry leader, 24 Hour Fitness transforms lives every day through fitness. Conveniently located clubs, furnished with a wide variety of strength, cardio and functional training equipment, are the perfect environment for fitness professionals to deliver dynamic personal and group training programs. GX24® and cycle rooms feature a popular array of live classes included with membership. A multitude of additional offerings engage and inspire every member to lead a full and healthy life both inside and outside of the club. Opening new clubs on average at the brisk pace of one every few weeks, 24 Hour Fitness is headquartered in San Ramon, CA and serves nearly 4 million members in over 430 clubs nationwide.